Cochin Stock Exchange - Revision history

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{{short description|Indian stock exchange in Kochi, Kerala}}
{{Use dmy dates|date=May 2018}}
{{Use Indian English|date=May 2018}}
'''Cochin Stock Exchange''' ('''CSE''' or '''CoSE''') was an [[India]]n stock exchange in [[Kochi, India|Kochi]], [[Kerala]] fully owned by [[Government of India]]. It was incorporated in 1978. At its peak{{When|date=June 2021}}, it had almost 500 Indian companies listed, and with a daily turnover of {{INR}}70–{{INRConvert|100|c|year=1995}}, it was the fourth largest exchange in India.

Cochin Stock Brokers, which provides trading facilities on the [[Bombay Stock Exchange]], and [[CSE Institute]], an educational organisation, continue to operate beyond the closure of the exchange.

== History ==
Cochin Stock Exchange was established in 1978.<ref>{{cite web |url=http://www.cochinstockexchange.com/CSE/profile.html |title=Archived copy |access-date=2010-07-28 |url-status=dead |archiveurl=https://web.archive.org/web/20100729205828/http://www.cochinstockexchange.com/CSE/profile.html |archivedate=2010-07-29 }}</ref>

During the 1990s, it was the fourth largest exchange in India by turnover, with a daily turnover of {{INR}}70–{{INRConvert|100|c|year=1995}}, with 476 Indian companies listed.<ref>{{Cite web |url=http://www.cochinstockexchange.com/rates/closert.txt |title=Archived copy |access-date=28 July 2010 |archive-url=https://web.archive.org/web/20110212193208/http://www.cochinstockexchange.com/rates/closert.txt |archive-date=12 February 2011 |url-status=dead |df=dmy-all }}</ref><ref name="MohanEtRaman1990"/>

Computerized trading was introduced in 1997. The major back office system software used are NESS and BOSS respectively for NSE and BSE. The trading software used in CSBL was [[Multex (trading software)|Multex]], developed by [[CMC (company)|CMC]].<ref>{{cite news | url=http://www.tribuneindia.com/2000/20000723/ldh1.htm | title=LSE Roundup | date=23 July 2000 | newspaper=The Tribune | location=India | accessdate=3 May 2018 }}</ref> Traders are provided Meta Stock and ERS software, trading terminals and optical fiber connections.<ref>{{cite web |url=http://www.cochinstockexchange.com/CSE/departments/systemsdep.html |title=Archived copy |accessdate=2010-07-28 |url-status=dead |archiveurl=https://web.archive.org/web/20100729124117/http://www.cochinstockexchange.com/CSE/departments/systemsdep.html |archivedate=2010-07-29 }}</ref> DP holdings are maintained by demat services like [[CDSL]].

The new millennium saw the stock exchange building being shifted from the old structure to a brand new building in the Kaloor area in northern Kochi.

Trading hours historically used to begin late in the afternoon enabling access to traders from other regions of the state. Base Minimum Capital required to be maintained is Rs. 2 lakhs.<ref>{{cite web |url=http://www.cochinstockexchange.com/CSE/membership.html |title=Archived copy |accessdate=2010-07-28 |url-status=dead |archiveurl=https://web.archive.org/web/20100803022059/http://www.cochinstockexchange.com/CSE/membership.html |archivedate=2010-08-03 }}</ref>

The securities scam of the early nineties led the [[Securities and Exchange Board of India]] (SEBI) regulations on stock exchanges requires separation of ownership and trading rights and made it mandatory for majority ownership rests with the public, those without any trading rights.<ref>{{cite web |url=http://www.cochinstockexchange.com/cse/interpre.pdf |title=Archived copy |accessdate=2010-07-28 |url-status=dead |archiveurl=https://web.archive.org/web/20091116164910/http://www.cochinstockexchange.com/cse/interpre.pdf |archivedate=2009-11-16 }}</ref>

The exchange stopped trading in 2005, and closing procedures after the SEBI introduced a minimum net worth requirement of {{INRConvert|100|c|year=2013}} and a turnover of {{INRConvert|1000|c|year=2013}} for stock exchanges to continue operation in 2013. It was in the final stages of closure by May 2014.<ref name="Joseph2014">{{cite news|last=Joseph|first=George|url=http://www.business-standard.com/article/markets/cochin-stock-exchange-exit-in-final-stages-114052901073_1.html|archiveurl=https://web.archive.org/web/20140531033610/http://www.business-standard.com/article/markets/cochin-stock-exchange-exit-in-final-stages-114052901073_1.html|archivedate=2014-05-31|date=2014-05-29|accessdate=2015-05-18|url-status=live|newspaper=[[Business Standard]]|publisher=[[Business Standard Ltd]]|location=[[Kochi]]|title=Cochin Stock Exchange exit in final stages}}</ref>

==Economic impact==
Industrialisation did not happen in Kerala to the extent as in other Indian states. The reasons for the failure to attract manufacturing industries was due to the political climate and the lack of resources in a small state with such a large population density. The stock exchange served as a channel for investors to find investment opportunities.<ref name="MohanEtRaman1990">{{cite journal|jstor=4395768 | volume=25 | pages=17–19 | title=Of Cochin Stock Exchange and What It Means}}</ref>

==Related organisations==
[[Cochin Stock Brokers]] Limited (CSBL) previously wholly owned by [[Government of India]] , is a corporate member of the [[National Stock Exchange of India]] and the [[Bombay Stock Exchange]], enabling CSBL users to have trading facilities in these listings.<ref>{{cite web |url=http://www.cochinstockexchange.com/CSBL/ABOUT_CSBL.HTML |title=Archived copy |accessdate=2010-07-28 |url-status=dead |archiveurl=https://web.archive.org/web/20100812042830/http://www.cochinstockexchange.com/CSBL/ABOUT_CSBL.HTML |archivedate=2010-08-12 }}</ref>

CSE Institute is an organisation that provides stock market training for investors.

== See also ==
* [[List of South Asian stock exchanges]]
* [[List of stock exchanges in the Commonwealth of Nations]]

==References==

{{Reflist}}

==External links==
* [https://web.archive.org/web/20060424135328/http://www.cochinstockexchange.com/ Official Site of the Cochin Stock Exchange]

{{Financial services in India}}
{{Stock exchanges in India}}
{{Kochi (India) topics}}

[[Category:Economy of Kochi]]
[[Category:Former stock exchanges in India]]
[[Category:1978 establishments in Kerala]]
[[Category:Financial services companies based in Kochi]]
[[Category:Indian companies established in 1978]]

← Older revision		Revision as of 11:21, 23 January 2025
Line 1:		Line 1:
	{{~~short~~ description\|~~Indian~~ stock exchange in ~~Kochi~~, ~~Kerala~~}}		{{Short description\|Former stock exchange in Kerala, India}}
	{{Use dmy dates\|date=~~May 2018~~}}		{{Use dmy dates\|date=August 2024}}
	{{Use Indian English\|date=May 2018}}		{{Use Indian English\|date=May 2018}}
	'''Cochin Stock Exchange''' ('''CSE''' or '''CoSE''') was an ~~[[India]]n~~ stock exchange in [[Kochi, India\|Kochi]], [[Kerala]] fully owned by [[Government of India]]. It was incorporated in 1978. At its peak~~{{When\|date=June 2021}}~~, it had almost 500 Indian companies listed, and with a daily turnover of {{INR}}70–{{INRConvert\|100\|c\|year=1995}}, it was the fourth largest exchange in India.		'''Cochin Stock Exchange''' ('''CSE''' or '''CoSE''') was an Indian stock exchange in [[Kochi, India\|Kochi]], [[Kerala]] fully owned by [[Government of India]]. It was incorporated in 1978. At its peak, it had almost 500 Indian companies listed, and with a daily turnover of {{INR}}70–{{INRConvert\|100\|c\|year=1995}}, it was the fourth largest exchange in India.<ref>[https://timesofindia.indiatimes.com/city/kochi/technology-killed-cochin-stock-exchange/articleshow/17328929.cms 'Technology' killed Cochin Stock Exchange] ''The Times of India''. Retrieved 5 August 2021</ref>

	Cochin Stock Brokers, which provides trading facilities on the [[Bombay Stock Exchange]], and [[CSE Institute]], an educational organisation, continue to operate beyond the closure of the exchange.		Cochin Stock Brokers, which provides trading facilities on the [[Bombay Stock Exchange]], and [[CSE Institute]], an educational organisation, continue to operate beyond the closure of the exchange.

	== History ==		== History ==
	Cochin Stock Exchange was established in 1978.<ref>{{cite web \|url=http://www.cochinstockexchange.com/CSE/profile.html \|title=~~Archived copy~~ \|access-date=2010~~-07-28~~ \|url-status=dead \|archiveurl=https://web.archive.org/web/20100729205828/http://www.cochinstockexchange.com/CSE/profile.html \|archivedate=2010~~-07-29~~ }}</ref>		Cochin Stock Exchange was established in 1978.<ref>{{cite web \|url=http://www.cochinstockexchange.com/CSE/profile.html \|title=Cochin Stock Exchange Profile \|access-date=28 July 2010 \|url-status=dead \|archiveurl=https://web.archive.org/web/20100729205828/http://www.cochinstockexchange.com/CSE/profile.html \|archivedate=29 July 2010 }}</ref>

	During the 1990s, it was the fourth largest exchange in India by turnover, with a daily turnover of {{INR}}70–{{INRConvert\|100\|c\|year=1995}}, with 476 Indian companies listed.<ref>{{Cite web \|url=http://www.cochinstockexchange.com/rates/closert.txt \|title=~~Archived copy~~ \|access-date=28 July 2010 \|archive-url=https://web.archive.org/web/20110212193208/http://www.cochinstockexchange.com/rates/closert.txt \|archive-date=12 February 2011 \|url-status=dead ~~\|df=dmy-all~~ }}</ref><ref name="MohanEtRaman1990"/>		During the 1990s, it was the fourth largest exchange in India by turnover, with a daily turnover of {{INR}}70–{{INRConvert\|100\|c\|year=1995}}, with 476 Indian companies listed.<ref>{{Cite web \|url=http://www.cochinstockexchange.com/rates/closert.txt \|title=Cochin Stock Exchange Ltd.-Subsidiary \|access-date=28 July 2010 \|archive-url=https://web.archive.org/web/20110212193208/http://www.cochinstockexchange.com/rates/closert.txt \|archive-date=12 February 2011 \|url-status=dead }}</ref><ref name="MohanEtRaman1990"/>

	Computerized trading was introduced in 1997. The major back office system software used are NESS and BOSS respectively for NSE and BSE. The trading software used in CSBL was [[Multex (trading software)\|Multex]], developed by [[CMC (company)\|CMC]].<ref>{{cite news \| url=http://www.tribuneindia.com/2000/20000723/ldh1.htm \| title=LSE Roundup \| date=23 July 2000 \| newspaper=The Tribune \| location=India \| accessdate=3 May 2018 }}</ref> Traders are provided Meta Stock and ERS software, trading terminals and optical fiber connections.<ref>{{cite web \|url=http://www.cochinstockexchange.com/CSE/departments/systemsdep.html \|title=~~Archived copy~~ \|accessdate=2010~~-07-28~~ \|url-status=dead \|archiveurl=https://web.archive.org/web/20100729124117/http://www.cochinstockexchange.com/CSE/departments/systemsdep.html \|archivedate=2010~~-07-29~~ }}</ref> DP holdings are maintained by demat services like [[CDSL]].		Computerized trading was introduced in 1997. The major back office system software used are NESS and BOSS respectively for NSE and BSE. The trading software used in CSBL was [[Multex (trading software)\|Multex]], developed by [[CMC (company)\|CMC]].<ref>{{cite news \| url=http://www.tribuneindia.com/2000/20000723/ldh1.htm \| title=LSE Roundup \| date=23 July 2000 \| newspaper=The Tribune \| location=India \| accessdate=3 May 2018 }}</ref> Traders are provided Meta Stock and ERS software, trading terminals and optical fiber connections.<ref>{{cite web \|url=http://www.cochinstockexchange.com/CSE/departments/systemsdep.html \|title=Cochin Stock Exchange Departments Systems \|accessdate=28 July 2010 \|url-status=dead \|archiveurl=https://web.archive.org/web/20100729124117/http://www.cochinstockexchange.com/CSE/departments/systemsdep.html \|archivedate=29 July 2010 }}</ref> DP holdings are maintained by demat services like [[CDSL]].

	The new millennium saw the stock exchange building being shifted from the old structure to a brand new building in the Kaloor area in northern Kochi.		The new millennium saw the stock exchange building being shifted from the old structure to a brand new building in the Kaloor area in northern Kochi.

	Trading hours historically used to begin late in the afternoon enabling access to traders from other regions of the state. Base Minimum Capital required to be maintained is Rs. 2 lakhs.<ref>{{cite web \|url=http://www.cochinstockexchange.com/CSE/membership.html \|title=~~Archived copy~~ \|accessdate=2010~~-07-28~~ \|url-status=dead \|archiveurl=https://web.archive.org/web/20100803022059/http://www.cochinstockexchange.com/CSE/membership.html \|archivedate=2010~~-08-03~~ }}</ref>		Trading hours historically used to begin late in the afternoon enabling access to traders from other regions of the state. Base Minimum Capital required to be maintained is Rs. 2 lakhs.<ref>{{cite web \|url=http://www.cochinstockexchange.com/CSE/membership.html \|title=Cochin Stock Exchange Membership \|accessdate=28 July 2010 \|url-status=dead \|archiveurl=https://web.archive.org/web/20100803022059/http://www.cochinstockexchange.com/CSE/membership.html \|archivedate=3 August 2010 }}</ref>

	The securities scam of the early nineties led the [[Securities and Exchange Board of India]] (SEBI) regulations on stock exchanges requires separation of ownership and trading rights and made it mandatory for majority ownership rests with the public, those without any trading rights.<ref>{{cite web \|url=http://www.cochinstockexchange.com/cse/interpre.pdf \|title=Archived copy \|accessdate=2010~~-07-28~~ \|url-status=dead \|archiveurl=https://web.archive.org/web/20091116164910/http://www.cochinstockexchange.com/cse/interpre.pdf \|archivedate=2009~~-11-16~~ }}</ref>		The securities scam of the early nineties led the [[Securities and Exchange Board of India]] (SEBI) regulations on stock exchanges requires separation of ownership and trading rights and made it mandatory for majority ownership rests with the public, those without any trading rights.<ref>{{cite web \|url=http://www.cochinstockexchange.com/cse/interpre.pdf \|title=Archived copy \|accessdate=28 July 2010 \|url-status=dead \|archiveurl=https://web.archive.org/web/20091116164910/http://www.cochinstockexchange.com/cse/interpre.pdf \|archivedate=16 November 2009 }}</ref>

	The exchange stopped trading in 2005, and closing procedures after the SEBI introduced a minimum net worth requirement of {{INRConvert\|100\|c\|year=2013}} and a turnover of {{INRConvert\|1000\|c\|year=2013}} for stock exchanges to continue operation in 2013. It was in the final stages of closure by May 2014.<ref name="Joseph2014">{{cite news\|last=Joseph\|first=George\|url=http://www.business-standard.com/article/markets/cochin-stock-exchange-exit-in-final-stages-114052901073_1.html\|archiveurl=https://web.archive.org/web/20140531033610/http://www.business-standard.com/article/markets/cochin-stock-exchange-exit-in-final-stages-114052901073_1.html\|archivedate=2014~~-05-31~~\|date=2014~~-05-29~~\|accessdate=2015~~-05-18~~\|url-status=live\|newspaper=[[Business Standard~~]]\|publisher=[[Business Standard Ltd~~]]\|location=[[Kochi]]\|title=Cochin Stock Exchange exit in final stages}}</ref>		The exchange stopped trading in 2005, and closing procedures after the SEBI introduced a minimum net worth requirement of {{INRConvert\|100\|c\|year=2013}} and a turnover of {{INRConvert\|1000\|c\|year=2013}} for stock exchanges to continue operation in 2013. It was in the final stages of closure by May 2014.<ref name="Joseph2014">{{cite news\|last=Joseph\|first=George\|url=http://www.business-standard.com/article/markets/cochin-stock-exchange-exit-in-final-stages-114052901073_1.html\|archiveurl=https://web.archive.org/web/20140531033610/http://www.business-standard.com/article/markets/cochin-stock-exchange-exit-in-final-stages-114052901073_1.html\|archivedate=31 May 2014\|date=29 May 2014\|accessdate=18 May 2015\|url-status=live\|newspaper=[[Business Standard]]\|location=[[Kochi]]\|title=Cochin Stock Exchange exit in final stages}}</ref>

	==Economic impact==		==Economic impact==
	Industrialisation did not happen in Kerala to the extent as in other Indian states. The reasons for the failure to attract manufacturing industries was due to the political climate and the lack of resources in a small state with such a large population density. The stock exchange served as a channel for investors to find investment opportunities.<ref name="MohanEtRaman1990">{{cite journal\|jstor=4395768 \| volume=25 \| pages=17–19 \| title=Of Cochin Stock Exchange and What It Means}}</ref>		Industrialisation did not happen in Kerala to the extent as in other Indian states. The reasons for the failure to attract manufacturing industries was due to the political climate and the lack of resources in a small state with such a large population density. The stock exchange served as a channel for investors to find investment opportunities.<ref name="MohanEtRaman1990">{{cite journal\|jstor=4395768 \| volume=25 \| pages=17–19 \| title=Of Cochin Stock Exchange and What It Means\| last1=Ram Mohan \| first1=K. T. \| last2=Ravi Raman \| first2=K. \| journal=Economic and Political Weekly \| year=1990 \| issue=1 }}</ref>

	==Related organisations==		==Related organisations==
	[[Cochin Stock Brokers]] Limited (CSBL) previously wholly owned by [[Government of India]] , is a corporate member of the [[National Stock Exchange of India]] and the [[Bombay Stock Exchange]], enabling CSBL users to have trading facilities in these listings.<ref>{{cite web \|url=http://www.cochinstockexchange.com/CSBL/ABOUT_CSBL.HTML \|title=~~Archived copy~~ \|accessdate=2010~~-07-28~~ \|url-status=dead \|archiveurl=https://web.archive.org/web/20100812042830/http://www.cochinstockexchange.com/CSBL/ABOUT_CSBL.HTML \|archivedate=2010~~-08-12~~ }}</ref>		[[Cochin Stock Brokers]] Limited (CSBL) previously wholly owned by [[Government of India]], is a corporate member of the [[National Stock Exchange of India]] and the [[Bombay Stock Exchange]], enabling CSBL users to have trading facilities in these listings.<ref>{{cite web \|url=http://www.cochinstockexchange.com/CSBL/ABOUT_CSBL.HTML \|title=Cochin Stock Exchange \|accessdate=28 July 2010 \|url-status=dead \|archiveurl=https://web.archive.org/web/20100812042830/http://www.cochinstockexchange.com/CSBL/ABOUT_CSBL.HTML \|archivedate=12 August 2010 }}</ref>

	CSE Institute is an organisation that provides stock market training for investors.		CSE Institute is an organisation that provides stock market training for investors.

	== See also ==		== See also ==
	* [[List of ~~South~~ Asian stock exchanges]]		* [[List of Asian stock exchanges]]
	* [[List of stock exchanges in the Commonwealth of Nations]]		* [[List of stock exchanges in the Commonwealth of Nations]]